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FinalDestiny says

EU approves new bailout deal for Cyprus http://money.cnn.com/2013/03/24/news/economy/cyprus-bailout-eu?hpt=hp_t1 So it seems bank deposits under 100,000 EURO are protected now.

This is the biggest joke ever, protected you say? When they will be unable to pay all the withdrawals, from where will they guarantee your money?

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Folksnet says

This gets worst and worst, (don’t get me wrong my friends, it’s a good thing that people are able to get they’re money or at least some of it for short time) but what I’m saying is all of these bailouts are just kicking the can down the road and further they kick it, worst it will get.

I’m amazed how little people know about how money and economy works. If you think EU or USA or all others will survive this mess? Ask your self how they are going to pay all this dept if they can’t even keep going with out paying anything now, how they going to pay the dept???
If you don’t know what the dept is? Just USA owns $17 TRILLION and we are not doing all that bad compare to other countries. If you don’t know how much money that is? $1 TRILLION = around 20,000 TONS of GOLD (I counted 1Oz = $1,600 amount is so big I’m not sure if my calculator know how to count :) ). Can anyone even comprehend this? How anyone can think that this can be fixed?

If I’m wrong, please tell me how.
If you think I’m some kind of a knot case, please think what if, what if this is true? What if? What will happen when EU, US and other will go down?

If you think I’m wrong, can someone tell how all this dept will be pay’d off? Who got the money?
Not meant to offend anyone nor start political discussion.

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webTypo says


EU approves new bailout deal for Cyprus http://money.cnn.com/2013/03/24/news/economy/cyprus-bailout-eu?hpt=hp_t1 So it seems bank deposits under 100,000 EURO are protected now.
This is the biggest joke ever, protected you say? When they will be unable to pay all the withdrawals, from where will they guarantee your money?

If I read it right from the news, then the money will come from the deposits over 100K, so they will basically plan to cut the bigger deposits to pay out the guaranteed under 100K deposits.

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Hotpin says

Looks like EU managed to find those 10 billions. Something that they should have done one week ago instead of creating this big panic, destroying people trust in Euro and creating big problems on the European and international financials markets.

Is not correct that European tax money is used to save private banks all over Europe but is also unfair to save France or Germany banks and let Cyprus pay by themselves.

But all those banks made huge amounts of profit and when there is a jump in the market all those money suddenly disappear and the citizens needs to pay for bankers business “mistakes”.

If I manage my business in a bad way I end up living under a bridge, no one will save me. If some rich banker family screw up their banking business they just need to call the government and using people savings as a threat they ask to get saved and off course they get trillions of dollars.

Now the question is if the people will remain calm at home or will start withdrawing the money once the banks will open.

All people want to withdraw the money from the banks but they put restriction on all accounts! Now you can take only 100 Euros per day from the ATM! At least for now!

And what you said is right ..

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Hotpin says

This gets worst and worst, (don’t get me wrong my friends, it’s a good thing that people are able to get they’re money or at least some of it for short time) but what I’m saying is all of these bailouts are just kicking the can down the road and further they kick it, worst it will get.

I’m amazed how little people know about how money and economy works. If you think EU or USA or all others will survive this mess? Ask your self how they are going to pay all this dept if they can’t even keep going with out paying anything now, how they going to pay the dept???
If you don’t know what the dept is? Just USA owns $17 TRILLION and we are not doing all that bad compare to other countries. If you don’t know how much money that is? $1 TRILLION = around 20,000 TONS of GOLD (I counted 1Oz = $1,600 amount is so big I’m not sure if my calculator know how to count :) ). Can anyone even comprehend this? How anyone can think that this can be fixed?

If I’m wrong, please tell me how.
If you think I’m some kind of a knot case, please think what if, what if this is true? What if? What will happen when EU, US and other will go down?

If you think I’m wrong, can someone tell how all this dept will be pay’d off? Who got the money?
Not meant to offend anyone nor start political discussion.

I couldnt agree more on what you said!

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doru says

How anyone can think that this can be fixed?

My opinion is that the plan is to create an unique global currency. But there are some steps to do before we get there. First each continent/political region will get its own currency, then those currency will end in one big final currency. Very probably it will be a electronic currency, no more paper and coins.

I think we are at the stage when the dollar and euro needs to merge to create the new North America/Europe currency.

The key to all this is to understand that no sane people will renounce to a stable, powerful currency that he’s using now for some hypothetical global one.

But if there is a problem with what we have now maybe we can better listen. :)

The only problem is, who will control that currency?

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Hotpin says

What the news dont say is that the government put restrictions in all accounts meaning you cant go and take your money from the bank if you wish! They put limit on ATM machines also that is €100 per day! no money are safe any more here they will find a way to take as much as they can…

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LGLab says

Now europe is officially a gangster stealing money from people. I can’t help but think that this is somehow a test case, they’ve tried in Cyprus, it worked, now watch and see it happen everywhere. Euro countries earn less than they owe, and they owe more and more every year, there is no end to this, they will squeeze every penny out of people until the streets are on fire.

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webTypo says

This gets worst and worst, (don’t get me wrong my friends, it’s a good thing that people are able to get they’re money or at least some of it for short time) but what I’m saying is all of these bailouts are just kicking the can down the road and further they kick it, worst it will get.

I’m amazed how little people know about how money and economy works. If you think EU or USA or all others will survive this mess? Ask your self how they are going to pay all this dept if they can’t even keep going with out paying anything now, how they going to pay the dept???
If you don’t know what the dept is? Just USA owns $17 TRILLION and we are not doing all that bad compare to other countries. If you don’t know how much money that is? $1 TRILLION = around 20,000 TONS of GOLD (I counted 1Oz = $1,600 amount is so big I’m not sure if my calculator know how to count :) ). Can anyone even comprehend this? How anyone can think that this can be fixed?

If I’m wrong, please tell me how.
If you think I’m some kind of a knot case, please think what if, what if this is true? What if? What will happen when EU, US and other will go down?

If you think I’m wrong, can someone tell how all this dept will be pay’d off? Who got the money?
Not meant to offend anyone nor start political discussion.

This is a very good cartoon about how the system works:

http://www.youtube.com/watch?feature=player_detailpage&v=tGk5ioEXlIM#t=406s

I think it’s very interesting and eye opener,

It’s also a story about history of money.

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ToivoMedia says

What the news dont say is that the government put restrictions in all accounts meaning you cant go and take your money from the bank if you wish! They put limit on ATM machines also that is €100 per day! no money are safe any more here they will find a way to take as much as they can…

The restrictions don’t mean your money isn’t safe. It’s just a measure to stop a bank run from happening, which would be a disaster.

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